---
title: "A-share subscription | Kente opens subscription to provide services for customers in battery electrolyte, oilfield chemicals, and other fields"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/234687023.md"
description: "Kente started its subscription on April 7, with an issue price of 15 yuan per share, a subscription limit of 9,000 shares, and a price-to-earnings ratio of 16.76 times. The company focuses on the research, development, production, and sales of quaternary ammonium compounds, serving the fields of fine chemicals, battery electrolytes, and more. From 2019 to 2021, the company's operating revenue was 466 million yuan, 486 million yuan, and 636 million yuan, with net profits of 69.4245 million yuan, 72.2527 million yuan, and 86.6393 million yuan, respectively. The prospectus reminds investors to pay attention to the risk of gross margin fluctuations"
datetime: "2025-04-06T22:37:05.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/234687023.md)
  - [en](https://longbridge.com/en/news/234687023.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/234687023.md)
---

# A-share subscription | Kente opens subscription to provide services for customers in battery electrolyte, oilfield chemicals, and other fields

According to Zhitong Finance APP, on April 7th, Kente (603120.SH) opened for subscription, with an issue price of 15 yuan per share, a subscription limit of 9,000 shares, and a price-to-earnings ratio of 16.76 times. It is listed on the Shanghai Stock Exchange, with Guojin Securities as its sponsor.

The prospectus reveals that Kente is a high-tech enterprise primarily engaged in the research, development, production, and sales of quaternary ammonium (quaternary) compound products. It has four major product series: quaternary ammonium salts, quaternary ammonium bases, quaternary ammonium salts, and crown ethers, dedicated to providing high-quality products and services to customers in fields such as fine chemicals, molecular sieves, polymer materials, battery electrolytes, and oilfield chemicals. During the reporting period, the proportion of revenue from its main business accounted for 99.65%, 99.65%, 99.71%, and 99.64% of total operating income, indicating no changes in the company's main business.

![IMG_0837.jpeg](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20250407/1743978837667579.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

In terms of finances, for the fiscal years 2019, 2020, and 2021, the company achieved operating revenues of approximately 466 million yuan, 486 million yuan, and 636 million yuan, respectively. The company's net profits were approximately 69.4245 million yuan, 72.2527 million yuan, and 86.3393 million yuan.

![IMG_0836.jpeg](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20250407/1743978850347032.jpeg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg)

It is important to note that the prospectus specifically reminds investors to pay attention to the risk of fluctuations in gross profit margin. From 2019 to June 2022, the company's comprehensive gross profit margins were 36.49%, 29.57%, 27.71%, and 27.46%, respectively. After excluding the impact of different accounting standards for transportation and packaging costs, the gross profit margins were 36.49%, 33.03%, 30.89%, and 30.50%. The decline in the company's gross profit margin is quite significant, and the fluctuations in gross profit margin are mainly influenced by various factors such as product sales structure, sales prices, raw material costs, and market supply and demand. If there are significant adverse fluctuations in the future regarding product sales structure, sales prices, raw material costs, and market supply and demand, the company’s comprehensive gross profit margin will still face the risk of decline, adversely affecting the company's overall profitability

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